The outbreak of COVID-19 brought the future of work to us now. Businesses have moved quickly to adapt to modern work practices and invest in software and perks that will improve productivity.
One of the bigger changes that white-collar businesses have made is that they are allowing employees to work from home. While it’s not a novel concept, remote and flexible work arrangements have been around for decades, now that larger organizations have adopted it, it’s likely that WFH arrangements are here to stay.
What does that mean for all the office spaces that have been relying on big businesses to stay? Unfortunately, we don’t know, but if flexible work arrangements are here to stay — it’s financially responsible for a business to move into shared spaces.
How Much You Can Save From Switching to Shared Space
According to the Wall Street Journal commercial real estate prices have reached peak levels in 2018, and haven’t changed much since.
This really takes a toll on early-phase businesses that are just getting off the ground. Most of these small businesses often take out small loans to lease or buy spaces — making it difficult to scale and start operations.
Both a desk or a private office in a shared space is significantly cheaper than leasing an office space. How much can you save if you’re a small business? This graph from Value Penguin shows us a comparison between a traditional office to shared space:
Keep in mind, the prices above don’t take into account the amenities that shared spaces offer—things like coffee, lights, internet, furniture, security system, and conference rooms.
What About Large Enterprises?
Let’s say you’re a larger organization that offers flexible arrangements and already has a large office. Investing in a shared space or satellite office can help build your presence in a community.
There are some perks in having both a traditional office and a shared space. The first being that you can have an office for remote employees that are looking for a place to get away from work. Though that may sound counterintuitive, giving employees the option to escape the confinement of their home office will help out with those feelings of social isolation.
How are Shared Spaces Operating Due to COVID-19?
In the last five years, flexible arrangements have increased by 40%. The pandemic emphasized the importance of offering a work from home arrangement. If you would like to manage a distributed team, having a shared workspace will be effective in giving employees a place to conduct business.
There are a lot of local businesses and large companies that have a presence in South Florida that have felt the effects of the COVID-19. This includes enterprises, small boutique stores, restaurants, that have had to adapt and move out of their office.
At Minds CoWork, we are getting businesses back on their feet. We are meeting all the requirements that local governments have given us to make sure that companies can have a safe, clean space to work out of.
There’s a chance that most people won’t go back to their old office at all. Now that companies have figured out that they can remain just as productive with employees at their homes — they are catering to employees and even giving them stipends to work outside of the office.
That’s why we’re creating different pricing packages and partnership opportunities to ensure that we not only meet health and safety requirements, but we can provide access to our space for you to be productive and focus on getting your work done.
Chat With Us to Save Thousands of Dollars and Work in a Safe Shared Space!
Set up a phone call and a quick tour of the space. Work with us to start transitioning into a shared space.